Swiss digital asset bank Sygnum has introduced a new bitcoin-backed loan product called MultiSYG, which uses multi-signature wallets to enhance security for clients. The service, developed in collaboration with lending specialist Debifi, holds each client’s bitcoin in a dedicated, segregated on-chain wallet. The keys to these wallets are split among the client, Sygnum Bank, and independent institutional keyholders, ensuring that no single entity has full control.
Sygnum reported that over one in five of its clients now utilize Lombard loans, with bitcoin making up more than 80% of the collateral by volume. This marks a significant increase from 2023, when bitcoin accounted for 63% of pledged collateral. The firm attributes this shift partly to a reduction in bitcoin’s one-year volatility, which has roughly halved from about 80% in 2021 to around 40%.
The demand for such services is driven by recent high-profile security incidents, as holders seek to access liquidity without selling their assets or entrusting full control to a single custodian. Iulian Zanoaga, Deputy Head Credit & Lending at Sygnum, stated that MultiSYG builds on the bank’s established regulated lending business, adding that distributed, multi-signature security is a natural next step for clients looking to secure their bitcoin while accessing liquidity.
Client assets are held off Sygnum’s balance sheet and are bankruptcy-remote under Swiss banking law. Sygnum and Debifi first launched bitcoin-backed lending together in 2025.